Bel Fuse (NASDAQ:BELFA) Stock Price Down 3.7% – Here’s Why

Bel Fuse Inc. (NASDAQ:BELFA)’s share price was down 3.7% on Thursday . The stock traded as low as $268.01 and last traded at $271.2450. Approximately 11,187 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 98,247 shares. The stock had previously closed at $281.67.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Bel Fuse from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $250.00.

Bel Fuse Stock Down 11.1%

The company has a debt-to-equity ratio of 0.47, a current ratio of 3.18 and a quick ratio of 1.73. The stock’s fifty day simple moving average is $251.57 and its 200-day simple moving average is $210.70. The stock has a market cap of $3.19 billion, a P/E ratio of 60.20 and a beta of 1.38.

Bel Fuse (NASDAQ:BELFA) last announced its quarterly earnings results on Wednesday, April 29th. The scientific and technical instruments company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.10. The business had revenue of $178.49 million for the quarter, compared to analysts’ expectations of $172.07 million. Bel Fuse had a return on equity of 22.38% and a net margin of 7.84%.

Bel Fuse Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Wednesday, July 15th. Bel Fuse’s dividend payout ratio (DPR) is 5.78%.

Hedge Funds Weigh In On Bel Fuse

Several hedge funds and other institutional investors have recently made changes to their positions in BELFA. Rhumbline Advisers increased its position in Bel Fuse by 41.5% in the 1st quarter. Rhumbline Advisers now owns 2,613 shares of the scientific and technical instruments company’s stock valued at $188,000 after acquiring an additional 767 shares during the period. Tower Research Capital LLC TRC boosted its position in Bel Fuse by 447.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 744 shares of the scientific and technical instruments company’s stock worth $67,000 after acquiring an additional 608 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Bel Fuse by 6.8% in the third quarter. JPMorgan Chase & Co. now owns 2,351 shares of the scientific and technical instruments company’s stock worth $274,000 after purchasing an additional 150 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Bel Fuse by 13.9% in the third quarter. Vanguard Group Inc. now owns 52,614 shares of the scientific and technical instruments company’s stock worth $6,122,000 after purchasing an additional 6,408 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Bel Fuse by 92.2% during the third quarter. BNP Paribas Financial Markets now owns 319 shares of the scientific and technical instruments company’s stock valued at $37,000 after purchasing an additional 153 shares during the period. 6.01% of the stock is currently owned by institutional investors and hedge funds.

About Bel Fuse

Bel Fuse Inc, incorporated in 1949 and headquartered in Jersey City, New Jersey, designs and manufactures a broad range of electronic components aimed at ensuring reliable power delivery, circuit protection and signal connectivity. The company operates through two primary segments—Power Solutions Group and Telecom Products Group—serving original equipment manufacturers in multiple end markets, including telecommunications, data communications, consumer electronics, industrial and transportation.

Within its Power Solutions Group, Bel Fuse offers magnetic components such as power and signal transformers, inductors and coils, as well as circuit protection devices including fuses and resettable polyfuses.